By Saliou Samb CONAKRY (Reuters) – Guinea signed a deal with Rio Tinto, Chinalco and the International Finance Corporation on Monday, setting out conditions for massive infrastructure investment to revive the giant $20 billion Simandou iron ore project. The agreement on the Investment Framework for Simandou did not set a date for the start of production at the long-delayed … Read more
Many small investors were attracted by the JSE listing of the AfroCentric Group. Created in 2006 and touted as the investment vehicle of successful businessmen Brian Joffe (Bidvest), Meyer Kahn (SABMiller) and Motty Sacks (Netcare), expectations were high. In the eight years since, the business has grown to a capitalisation of R2bn. But progress has … Read more
Although Anglo American’s iron ore subsidiary Kumba had to go to court to fight off an attempted hijacking of its mineral rights by the politically connected Gupta family, it retains confidence in the SA legal processes. The company expects to secure another important mining licence during the first half of 2014. Seeing the SA mining … Read more
Glencore Xstrata is only starting to get used to life as a listed company. CEO Ivan Glasenberg, a South African by birth and upbringing, has not yet granted a broadcast interview. Not on television or radio. Colleagues tell me it will happen. Maybe. But not just yet. So with the central character in today’s R713bn … Read more
Mining entrepreneur Robert Friedland is, well, interesting. Listed by Forbes magazine as a billionaire with $1.15bn net worth, Ivanhoe Mining’s founder attracts controversy like horses do flies. A brief Google search uncovers a two year jail sentence for drug dealing; an early US project still ranked the country’s worst contaminator; and, more recently, news of … Read more